CELSE (IFC-39652)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
CELSE - CENTRAIS ELETRICAS DE SERGIPE S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,800.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 31, 2017

Disclosed by Bank Oct 6, 2017

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Project Description
CELSE Centrais Elétricas de Sergipe S.A. (“CELSE” or the “Sponsor”) is developing the Power Plant Port of Sergipe I (“Project”), a greenfield gas-fired combined cycle thermal power plant and associated infrastructure. The project consists of a 1,500 MW combined-cycle power plant using three GE 7HA.02 gas turbines (GTs) with corresponding Heat Recovery Steam Generators (HRSG) and one steam turbine (ST). It will be connected to the grid via a 34.2 km double circuit 500-kV transmission line and air-insulated connection bay linking to an existing substation with potential to receive up to 3,000 MW. The project further includes a fully dedicated chartered floating storage and regasification unit (FSRU) with a storage capacity of 170,000 m3 and a liquefied natural gas (LNG) regasification capacity of up to 14 million m3/day with a Submerged Soft Yoke (SSY) mooring structure. The FRSU will be located 6.5 km offshore and will connect to the power plant via an 18-inch diameter offshore and onshore gas pipeline to transfer the regasified LNG (RLNG) from the FSRU to the combined-cycle power plant. Seawater cooling towers will be used for the condenser cooling. The water intake and cooling water discharge are located offshore, and are connected to the power plant with pipelines that follow routing along to the RLNG pipeline with a seawater pumping station located on-shore.
Investment Description
Private Actors Description
CELSE was created in 2015 by EBRASIL- Eletricidade do Brasil and Golar Power (a joint-venture between Golar LNG and Stonepeak Infrastructure Partners).

Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/